Having formerly served as Chairmen of the Surface Transportation Board (STB), we have unique insights regarding how the STB would review the proposed CP+NS merger and any related voting trust
At one end of the spectrum, the proxy agreement and voting trust
prohibit the exertion of any direct control or influence by the foreign shareholder, yet these arrangements impose no access limitations on the subsidiary's clearance.
Having formerly served as Chairmen of the Surface Transportation Board ("STB"), we have unique insights regarding how the STB would review the proposed CP+NS merger and any related voting trust
A voting trust
is used when a business's founder has died and no successor has been named.
There is no certainty that the STB would approve a voting trust
- the voting trust
structure proposed by Canadian Pacific is unprecedented and likely would not be approved
As previously announced, the trustees of the National Information Consortium Voting Trust
dissolved the trust as of June 20, 2008.
The court further held that Tim Newkirk, the Company's CEO and one of three trustees of the Cray Family Trust, lacked standing to challenge the capacity, qualifications or decisions of the trustees of the Voting Trust
or the validity of the Second Amendment to the Voting Trust
NASDAQ: EGOV) today announced the trustees of the National Information Consortium Voting Trust
have informed the company that they have dissolved the trust as of June 20, 2008.
(the "Cray Family Voting Trust
") and replaced with two members of current management of the Company and one unspecified member of the Cray family owning of record 10,000 or more shares of Common Stock of the Company.
The provision also applies to the indirect retention of voting rights gained through a voting trust
8% of the outstanding shares of Brazauro and are subject to the terms of a Voting Trust
and Placement Rights Agreement under which Brazauro will have the right to direct the voting of the shares for a limited period of time, except in certain conditions, and the right to find purchasers for the shares if BrazMin wishes to sell.
The Trust Agreement and the Shareholders' and Voting Trust
Agreement between the holders of multiple voting shares will terminate with respect to Mr.
In Letter Ruling 9349009,(7) three trusts wanted to make substantial distributions of voting trust
certificates and nonvoting common stock for estate planning purposes.
Mead has agreed to sell two million shares beneficially owned by him as trustee under a voting trust
agreement dated November 1, 1999.
The voting trust
is required by US law so that CP does not exercise control over DM&E prior to approval of the transaction by the STB.